Insurance broker NFP has acquired Ireland-based Aiken Insurances (AIL), a retail and commercial property and casualty insurance broker, for an undisclosed sum.
Wholesale broker AIL is a Lloyds of London coverholder. It specialises in professional indemnity/directors’ and officers’ liability insurance, complex commercial liability and property risks, leisure and entertainment and construction sectors.
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NFP expects the acquisition to augment its property and casualty capabilities in Europe and add new expertise in specialised insurance lines.
As per the terms of the agreement, the entire AIL leadership team of William Irwin, Cara Aiken, Stephen Mills, Andrew Quinn, and Stephen Devereux will join NFP.
NFP Ireland director Colm Power said: “NFP aims to be a leader in providing corporate and individual solutions to support employee engagement, physical and financial wellbeing and insurance to safeguard organisations.
“The addition of Aiken to NFP is our first commercial insurance acquisition in Ireland and rounds out the NFP Ireland offering of employee benefits and consultancy, individual wealth management and commercial insurance, in line with the rest of NFP.”
Aiken managing director Irwin said: “Our shared strategic vision will enable the close collaboration necessary to drive results. NFP is a fast-growing and dynamic group and we look forward to managing all aspects of our clients’ businesses together as we identify new opportunities for them to achieve their goals.”
Earlier this year, NFP partnered with cybersecurity-focused claims management provider CyberScout to launch a personal cybersecurity product, dubbed DigitalShield.
